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More jobs in debt collection as economy strengthens

Nov 04, 2012 Philip Burgess

More jobs in debt collection as economy strengthens
There are some who might think that financial improvement of the overall American market would reduce the need for debt collection data, but that is not the case. Rather, as more people feel confident enough to start investing more readily rather than remaining reticent, they have a tendency to overstretch themselves and wind up in financial hardship once again. These conditions are making it necessary for companies to invest in debt collection services, and in turn, these firms must retain more staff.
 This trend has been evidenced recently in different parts of the country, but a recent high-level appointment at one such entity could herald the expansion of that business. As the demand for collection services continues to mount, more businesses in this sector could see the same changes taking place.
A mind for expansionSeveral entities in the debt collection game are looking to enhance their footprint while assisting companies trying to recover lost funds. The amount of interest these kinds of firms are receiving could be discerned by looking at just how aggressively some of them are expanding, making large talent acquisitions and encouraging more availability of their services and higher levels of leadership. According to insideARM, Providence Dane in Virginia Beach, Virginia, recently acquired Kirstyn Lazar as sales executive, shifting the entity's focus from simply providing its services to one geared toward forging relationships with more clients. Adding a new executive to its staff, Providence Dane may be able to better diversify its corporate portfolio, as a single individual in charge of such an important aspect of the business could help push more direct sales in the future.
Broad scale hiringCreating Lazar's position opens the realm of new lower-level hiring for the entity. The move could help relieve unemployment in the area by creating more base sales jobs, customer service personnel and document processing positions. Other companies have taken the initiative to do this same thing with the intention of expanding their debt collection capabilities, while providing more financial opportunities with new employees. Hampton Roads reported that Portfolio Recovery Associates recently hired more than 125 workers and intends to double that number by the end of 2012 at its Norfolk, Virginia, office alone. The source stated the new positions encompassed everything from IT staff to call center personnel, giving every facet of its operations additional power.